Edmonton Real Estate Market Update – February 2025

Thinking about buying or selling a home in Edmonton? Here’s a quick breakdown of the latest market trends from January 2025.

More Homes Selling and More Listings Available

1,597 homes were sold in the Greater Edmonton Area last month.
That’s a 12.1% increase from December and 11.2% more than January 2024.
2,452 new listings hit the market, a big 83.5% jump from December and a 12.9% increase from last year.
The total number of homes for sale is still lower than last year but increased slightly (6.9%) from December.

Home Sales Breakdown by Property Type

Here’s how different types of homes performed in January:

Detached homes: 856 sold (+3.9% from December, -2.4% from last year).
Semi-detached homes (like duplexes): 200 sold (+22% from December, +41.8% from last year).
Townhouses/Row homes: Up 8.8% from December and 21.8% from last year.
Condo sales: A big jump—39.1% more than December and 36% higher than last year.

Home Prices Are Still Rising

The average home price in Edmonton last month was $438,278—a small 0.8% increase from December but nearly 10% higher than last year.

Here’s a closer look at different property types:

Detached homes: $561,282 (+4.2% from December, +16.2% from last year).
Semi-detached homes: $420,844 (+3.0% from December, +11.2% from last year).
Townhouses: $311,866 (+6.6% from December, +15.8% from last year).
Condos: $202,663 (slightly down 0.8% from December, but still 4.9% higher than last year).

How Long Are Homes Taking to Sell?

On average, homes took 48 days to sell, which is 4 days longer than December but 11 days faster than last year.

Detached homes: 51 days (+7 days from December).
Semi-detached homes: 37 days (+4 days from December).
Townhouses: 37 days (1 day faster than December).
Condos: 57 days (same as December).

What This Means for Buyers and Sellers

For sellers: More listings hit the market in January, but homes are still selling relatively quickly. Prices are up compared to last year, which is great news if you’re thinking of selling.
For buyers: With more homes available, you’ll have more choices. Prices are rising, but compared to other major Canadian cities, Edmonton remains an affordable market.

What’s Next for the Market?

According to the REALTORS® Association of Edmonton, the surge in new listings for January was unexpected, as it’s usually a slower month. Whether this trend continues remains to be seen.

If you’re thinking about buying or selling, now is a good time to explore your options while the market is active!

Posted by Corey Sylvester on February 7th, 2025

Edmonton Real Estate Market Update - February 2025